An index measuring the outlook for the Australian economy moved up 0.3 percent in September, the Conference Board revealed on Tuesday, following the 0.2 percent contraction in August and the 0.2 percent gain in July.

The members of the Reserve Bank of Australia's monetary policy board said that the Australian economy continues to expand below trend, and therefore will not absolutely rule out additional stimulus, minutes from the central bank's November 5 meeting revealed on Tuesday. In addition, the members noted that the Australian dollar remains higher than the bank would prefer.

The total value of construction work done in Australia climbed a seasonally adjusted 2.7 percent in the third quarter of 2013 compared to the previous three months, the Australian Bureau of Statistics said on Wednesday - standing at A$53.426 billion.

The total number of building permits issued in Australia eased a seasonally adjusted 1.8 percent in October compared to the previous month, the Australian Bureau of Statistics said on Monday, standing at 16,491.

The total value of retail sales in Australia added a seasonally adjusted 0.5 percent in October compared to the previous month, the Australian Bureau of Statistics said on Tuesday - coming in at A$22.284 billion.

The Reserve Bank of Australia on Tuesday decided to keep its benchmark cash rate unchanged at a record low of 2.5 percent for a fourth consecutive time while reiterating policymakers' concern that the Australian dollar still remained "uncomfortably high". The Australian dollar, while below its level earlier in the year, is still uncomfortably high, Governor Glenn Stevens said in a statement.